Tax Extension Center continues its daily series of The Top 100 Reasons to File a Tax Extension. Our goal is to educate taxpayers that filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #74: your accountant is going to charge you way too much for an extension when you can do yourself.
If you’re going to file a tax extension this year, you definitely should file it yourself. Unless your accountant works for $10 per hour (last I check that is definitely not the going rates these days), you’ll save money. If you use an online IRS extension service, you can save time and money because it’s so easy.
So you have a choice: pay your accountant extravagant fees or save some serious money and file a tax extension yourself in just a few minutes. Then you can still have your accountant file your taxes.
These days most people are looking for ways to save a few bucks (especially during tax time). Hopefully this tip will serve you well.
Have you ever filed a tax extension before? Thinking about filing one this year? Whether you are new to extensions or you file one very year, remember that an IRS extension does not give you more time to pay what you owe the IRS. You still need to make your payment by midnight on April 15 (or March 15 for the corporate tax deadline). An extension gives you more time to file the necessary tax forms you’re supposed to file. Failing to make your payment on time could make you subject to tax extension penalties and interest.
Questions? Feedback? Let’s chat in the comment section below.
